Non-REIT real estate listed companies will be included in the property sector, according to the PSX notification.
Adding this new feature brings PSX one step closer to providing a more accurate depiction of the economic activity of the companies listed on the exchange. To give a more accurate portrayal of real estate and construction in the PSX, this is an attempt at simplification.
TPL Properties, Javed Corp Ltd, and Pace (Pak) Limited are the initial entrants in this sector. Previously, each of these companies was listed in a different industry.
PSX has also been active in the real estate market, albeit in a more subdued manner. Over a dozen real estate investment trusts (REITs) were scheduled to go public on the PSX exchange recently as part of the company’s recent plan to help REITs raise capital for their real estate projects through the sale of public stock.
Real estate investment trusts (REITs) are additional sources of income for shareholders. In order to make a profit on their financing or investment, individuals can put money into development REITs (construction projects) and buy shares in those projects’ rental properties.
It is still the trustee of all REITs in Pakistan that are held by the Central Depository Company (CDC).